Mississippi is giving away free scholarships ahead of National 529 Day.
A special day highlighting the importance of savings plans for helping families plan and pay for college is the basis for State Treasurer David McRae’s new statewide scholarship giveaway.
McRae announced details this week concerning the giveaway where 15 Mississippi families will win $500 in free scholarship money to open an account via the Mississippi Affordable College Savings program.
“Tuition prices are rising and families are looking for help,” said McRae. “Mississippi 529 college savings plans offer the opportunity to financially prepare in a fiscally responsible way.”
McRae said residents should watch their mailboxes for the giveaway allowing 15 lucky families will win a combined total of $7,500. The scholarships will be given via a Mississippi Affordable College Savings account through the State Treasury.
“Like most things in life, the hardest part about the plans is getting started,” added McRae. “That’s why we’re giving families the opportunity to win an account this month. What’s more, we’ll be filling those winning accounts with $500 in scholarship money.”
Families who receive the postcard should scratch off the winning ticket area to see if they won.
Those who don’t win are still invited to open an account on their own, which can be done for as little as a $25 deposit. Almost anyone can open an account including parents, grandparents, relatives and friends as the scholarship account can be gifted. Tuition, books, supplies and certain room and board expenses for college students, as well as elementary and secondary tuition expenses for younger students, can be covered by the account scholarship. The money can be used at any eligible institution, including public and private colleges and universities, graduate and post-graduate schools, community colleges, and certain proprietary and vocational schools.
For contest rules and learn more about opening an account, visit treasury.ms.gov/scholarshipsweepstakes.